“The FOMC statement, which provided more definitive guidance stating that an increase will likely occur later this year, should help to reduce recent market volatility, which has been caused by the significant uncertainty about the Fed’s decision at this September meeting,.”
–Mortgage Bankers Association Chief Economist Mike Fratantoni.
MBA Newslinks Archive
MBA Newslink Thursday 9-17-15
“Home builders continue to feel optimistic about overall market fundamentals. The slight decrease in future sales is likely due to uncertainty about Fed policy and the global economy.”
–Mark Vitner, senior economist with Wells Fargo Securities, Charlotte, N.C.
MBA Newslink Wednesday 9-16-15
“The unintended impact of this proposed g-fee increase extension will be to keep housing consumers on the sideline, preventing the absorption of our nation’s large real-estate owned inventory, as well as curtailing refinance activity that is needed to keep creditworthy borrowers in their homes.”
–From an MBA/trade group letter to Congress urging rejection of an increase of Fannie Mae/Freddie Mac credit guaranty fees to fund highway programs.
MBA Newslink Tuesday 9-15-15
“Not only are Suspicious Activity Reports generating leads, but they are also helping us build cases. SARs also represent intelligence; they provide us with leads; they help us develop new sources; and they provide support to other active cases.”
–Special Agent Kevin Damuth of the Financial Institution Fraud Unit with the Federal Bureau of Investigation.
MBA Newslink Monday 9-14-15
“You have to think as much out of the box as the fraudsters. One thing is for sure–the fraud of today is not going to look like the fraud of tomorrow.”
–Charles La Bella, deputy chief of the fraud section with the Department of Justice.
MBA Newslink Friday 9-11-15
“MBA has worked closely with the Consumer Financial Protection Bureau to create these materials so that both consumers and the real estate community can comply with the new procedures in an efficient and smooth process.–MBA President and CEO David Stevens, discussing a set of MBA resource guidelines to educate both consumers and lenders and their business partners needing to comply with the new Know Before You Owe or TILA/RESPA Integrated Disclosure regulations that go into effect on Oct. 3.
MBA Newslink Thursday 9-10-15
“We realized that smaller firms might not have enough resources or expertise to keep abreast of the rapidly changing risks. Our Workgroup identified a need for a security guide that non-technical individuals could use to help improve the security of their organization.”
–Shawn Malone, vice president with Radian Group, Philadelphia, and chair of the MBA Information Security Workgroup, which released a white paper this morning on information security.
MBA Newslink Wednesday 9-9-15
“As commercial property incomes and values continue to climb, and financing remains plentiful, loan performance continues to improve as well. Commercial and multifamily mortgage delinquency rates were down broadly in the second quarter.”
–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.
MBA Newslink 9-8-15
“For [Federal Open Market Committee] actions in September the projection of inflation, not the current pace of inflation, remains the focus of policy. From the FOMC’s view, current low inflation is discounted due to temporary conditions.”
–John Silvia, chief economist with Wells Fargo Securities, Charlotte, N.C.
MBA Newslink 9-4-15
“A temporary legal safe harbor for lenders will ensure the new requirements are implemented in an orderly manner and that consumers are not confused or, worse yet, impaired in their ability to purchase a home or refinance a loan.”
–From an MBA Mortgage Action Alliance Call to Action urging support for two bills that would grant lenders a temporary safe harbor under the Consumer Financial Protection Bureau’s TILA/RESPA Integrated Discloaure Rule set to go into effect next month.